Worldwide ad spending to reach $517B this year

New York—Ad spending globally will hit $517.0 billion this year, up 2.8% over 2012, according to a report from eMarketer.
The spending forecast, which includes such channels as digital (including mobile), directories, magazines, newspapers, outdoor, radio and TV, will slow a bit from last year's 4.4% climb. That increase was boosted in part by the Olympics, eMarketer said. The fastest growth in spending this year will come from emerging markets in Central and Eastern Europe, with an expected increase of 8.0%, and Latin America, forecast to rise 7.5%.
While North American ad expenditures are projected to grow only 3.4%, the region remains the highest-spending area, with $184.4 billion in total media ad spending this year. The U.S. alone will contribute $170.7 billion of that total, eMarketer said.